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Johannesburg - The opening auction of the JSE was delayed until about 11:00 on Monday morning because of a connectivity problem.
The JSE has announced that it has now resolved the network issue and the opening auction will run from 11:00 to 11:30 after which the market will open for trade.
Fin24 was first alerted to the problem just after 09:00 by user Ike Jakson, who wanted to confirm an alert from his brokers.
The JSE confirmed that the initial corrective actions applied by the JSE did not resolve the issue and that caused the opening auction to be delayed.
A JSE spokesperson told Fin24 by mid-morning that all other JSE markets are not affected. "We will advise once the issue has been resolved," she said.
"The JSE continues to investigate the root cause of the network issue and will be applying further possible corrective actions with its service providers. We are aware of the impact to our clients and apologise for any inconvenience."
The JSE said earlier that the further corrective action included a reboot of one of the JSE trading network switches.
Some equity market clients may lose connectivity temporarily, the JSE said and added that this will not affect any other market connectivity as only the equity market operates through this trading network.
#JSE remains broken with no news except it still broken .. http://t.co/0XqCrxWEJF
— Simon Brown (@SimonPB) September 15, 2014One network meltdown in 2010 caused a six-hour halt.
In 2012, the bourse launched a revamped trading platform to woo more business from hedge funds.
The new system is based in Johannesburg, unlike its predecessor that was housed in London.
With a market value of nearly $900bn, the JSE is Africa's deepest and most sophisticated equities market.
The JSE advised the public to contact its customer support with queries.
- Fin24, Reuters
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